FGI designs £3 million financing solution for ThisWorks
ThisWorks is an award-winning skincare and beauty products company. Founded in the UK in 2003, the business is established on the premise that it delivers what it promises across a very particular range of carefully crafted products which they design and distribute themselves. While ThisWorks began its operations by supplying select specialized beauty retailers, today they supply major UK, European and US retail groups and their products are sought after by the high-end luxury travel markets as well.
ThisWorks had a domestic AR facility with a UK bank. However, the business was becoming increasingly focused on the US and European markets coupled with the dynamics of seasonal highs and lows. With new orders in the pipeline, additional working capital to weather the seasonal ebb and flow of the business became essential. They needed a larger and more flexible facility which would give them greater availability by including inventory in addition to AR.
Due to FGI’s extensive experience funding transatlantic companies, FGI was able to design a £3 million facility which accommodated their business’ seasonal trends and allowed them to draw against both inventory as well as AR.